Israeli EdTech co SlateScience raises $45m

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The company has developed the Matific educational math and science games for mobile and web platforms.

Israel EdTech startup SlateScience, which has developed the Matific educational math and science games for mobile and web platforms, has raised $45 million led by Australian entrepreneur Leon Kamenev. The company raised $12 million last year.

Founded in 2012, the company’s products are sold in over 20 countries around the world. Following the fundraising, Matific is planning to grow its Israeli R&D center and is recruiting new employees.

Matific creates a fun, interactive learning experience, personally customized for each child using a unique technology that combines machine learning, data mining and automatic content generation. The company offers school and home products. The school product allows teachers to associate assignments that are customized to the school curriculum and each child’s individual needs.

In the past year, Matific’s school product, which is available in 20 languages, was successfully integrated in hundreds of schools all over the world.

SlateScience was founded by Prof. Raz Kupferman, a world expert on math education, and a former head of the Einstein Institute of Math at the Hebrew University of Jerusalem; Prof. Shimon Shocken, the founding dean of the EFI Arazi school of computer science at the Interdisciplinary Center (IDC) in Herzliya, who has also taught in the past at NYU, Harvard and Stanford ; Shmulik London, a computer science expert; and Guy Vardi, a former executive at Oberon and a thought leader in the gaming industry.

SlateScience's Matific R&D and global operations center is located in Israel, with sales offices in the US, Australia, Canada, South America, UK, and South Africa. The R&D center includes specialized game design teams that provide both mentorship and hands on experience for computer science students and graduates, and is currently recruiting mathematicians, computer science engineers and team leaders.

The Australian entrepreneur, Leon Kamenev, has decided to increase his investment in Matific once realizing the critical need to provide students across the world with superior math education tools at an affordable cost, with free distribution for underserved areas. Kamenev is also the founder of the leading sites HotelClub and MenuLog.

COO and Israel office managing director Gil Almog said, "The current investment provides Matific with even more growth opportunities and allows us to expand our R&D center and global sales team. We are extremely excited about the opportunity we received from Leon and the rest of the investors to revolutionize education."

Published by Globes [online], Israel business news - - on July 27, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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Startups Photo: Shutterstock
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